Mahindra & Mahindra Ltd.

BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3129.15
43.90 (1.42%)
< Home < Back

Mahindra Group, British International Investment commit $500 million for electric SUV space

Date: 26-09-2022

Mahindra Group and British International Investment have committed $500 million (over Rs 4,000 crore) capital for the electric sports utility vehicle space. Impact investor British International Investment (BII) has already announced an investment of $250 million in the company's electric vehicle venture 'EV Co'. As per an agreement between the two partners, the new electric vehicle company is envisaged to have a total capital infusion of around $ 1 billion between FY24 and FY27 for planned product portfolio.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.